Answer:
The opportunity cost of one pair of shoes for the United States is, while the opportunity cost of one pair of shoes for Canada is B. 5 apples; 2 apples
Explanation:
An American worker can make 20 pairs of shoes or grow 100 apples per day. The opportunity cost of 20 pairs of shoes for the United States are 100 apples. The opportunity cost of one pair of shoes for the United States = 100 apples/20 = 5 apples
A Canadian worker can produce 10 pairs of shoes or grow 20 apples per day.
The opportunity cost of 10 pairs of shoes for Canada are 20 apples.
The opportunity cost of one pair of shoes for Canada = 20 apples/10 = 2 apples
Answer:
D. Sales tax on the shirt she purchased.
Explanation:
Sales tax is a consumption tax levied by government on the sale of goods and services. Sales tax is usually collected at the point of sale, by the retailer and passed onwards to the government through a tax collection agency.
If you<span> owned and lived in the place for two of the five years before the </span>sale<span>, then up to $250,000 of profit is </span>tax<span>-free. If </span>you<span> are married and file a joint return, the </span>tax<span>-free amount doubles to $500,000. The law lets </span>you<span> "exclude" this much otherwise taxable profit from your taxable income.</span>
Answer:
A programmer, a web designer, and a data analyst.
Explanation:
The programmer creates the sales system application. He will integrate key functionalities in the new software that will meet the companie's unique need.
The we designer will create a website that will give easy access to the newly developed sales system application. This will also involve content creation and user interface creation.
Data analyst will be in charge of managing client's data. Making sure data is secure and in a form that can be easily accessed and used.
Answer:
Part A)
The eliminating entries are recorded only in the consolidation work paper and therefore do not change the balances recorded on the company's books. Each time consolidated statements are prepared the balances reported on the company's books serve as the starting point. Thus, all the necessary eliminating entries must be entered in the consolidation work paper each time consolidated statements are prepared.
Part B)
For acquisitions prior to the application of FASB 141R, the balance assigned to the non-controlling shareholders at the beginning of the period is based on the book value of the net assets of the subsidiary at that date and is recorded in the work paper in the entry to eliminate the beginning stockholders' equity balances of the subsidiary and the beginning investment account balance of the parent. For acquisitions after the effective date of FASB 141 R, the non-controlling interest at a point in time is equal to its fair value on the date of combination, adjusted to date for a proportionate share of the undistributed earnings of the subsidiary and the non-controlling interest's share of any write-off of differential. Another approach to determining the non-controlling interest at a point in time is to add the remaining differential at that time to the subsidiary’s common stockholder’s equity and multiply the result by the non-controlling interests proportionate ownership interest in the subsidiary
Part C)
In the consolidation work paper the ending balance assigned to non-controlling interest is derived by crediting non-controlling interest for the starting balance, as indicated in the preceding question, and then adding income assigned to the non-controlling interest in the consolidated income statement and deducting a pro-rata portion of subsidiary dividends declared during the period.
Part D)
All the stockholders' equity account balances of the subsidiary must be eliminated each time consolidated financial statements are prepared. Inter-company receivables and payables, if any, must also be eliminated.
Part E)
The "investment in subsidiary" and "income from subsidiary" accounts must be eliminated each time when the consolidated financial statements are prepared. Inter-company receivables and payables, if any, must also be eliminated.